FIGURE 4-3 -Refer to Figure 4-3, Which Shows a Demand Shift and Shift

Multiple Choice

FIGURE 4-3
-Refer to Figure 4-3, which shows a demand shift and the short-run and long-run supply curves for some product. In the new long-run equilibrium at EL, producersʹ revenue

A) is unambiguously lower than at ES.
B) could be higher or lower than at ES, depending on the price elasticity of demand.
C) is unambiguously lower than at E0.
D) could be higher or lower than at E0, depending on the price elasticity of demand.
E) is unambiguously higher than at ES.